Market regulator, the Securities and Exchange Board of India, told the Supreme Court on Thursday that the Sahara Group obstructed the process of auction of Aamby Valley by raising the issue of law and order on the property with the Pune Police, PTI reported. The top court bench said that anyone who tried to obstruct the auction would be held in contempt of court and jailed.
The top court said that Sahara should not have initiated a communication with Pune’s Superintendent of Police (Rural) Mohammad Suvez Haque since the auction was ordered by the court. However, the court said it would not initiate contempt proceedings against Sahara “at this stage”.
Sebi also told the court that there had been no bidders for the property yet, as the police had taken custody of the property after Sahara’s letter. However, Sahara’s counsel Mukul Rohatgi said it was false claim, alleging that “completely wrong statements are made to prejudice the court”.
The bench also asked Maharashtra Director General of Police Satish Mathur to ensure that the property was handed over to the Bombay High Court’s official liquidator within 48 hours to go ahead with the auction.